WINTON GROUP Ltd Purchases New Position in AppFolio, Inc. (NASDAQ:APPF)

WINTON GROUP Ltd purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,836 shares of the software maker’s stock, valued at approximately $938,000.

Several other institutional investors also recently bought and sold shares of APPF. Norges Bank acquired a new position in shares of AppFolio during the 4th quarter worth approximately $38,458,000. Zeno Equity Partners LLP acquired a new position in AppFolio during the fourth quarter worth $33,434,000. Principal Financial Group Inc. lifted its holdings in AppFolio by 2,359.8% during the first quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock valued at $37,417,000 after purchasing an additional 145,481 shares in the last quarter. Westwind Capital lifted its holdings in AppFolio by 301.0% during the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock valued at $3,650,000 after purchasing an additional 112,024 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of AppFolio in the fourth quarter valued at about $18,636,000. 62.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 200 shares of AppFolio stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $232.52, for a total transaction of $46,504.00. Following the completion of the sale, the insider now directly owns 27,568 shares in the company, valued at $6,410,111.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $232.52, for a total value of $46,504.00. Following the transaction, the insider now directly owns 27,568 shares in the company, valued at approximately $6,410,111.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Maurice J. Duca sold 4,203 shares of AppFolio stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $230.34, for a total transaction of $968,119.02. Following the completion of the sale, the insider now owns 45,447 shares of the company’s stock, valued at approximately $10,468,261.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,254 shares of company stock worth $14,241,974. Company insiders own 9.15% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on APPF. Piper Sandler lifted their price objective on AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. KeyCorp raised their price objective on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. DA Davidson upped their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $227.15 on Tuesday. The company has a market capitalization of $8.24 billion, a P/E ratio of 109.73 and a beta of 0.81. The company has a 50 day simple moving average of $232.44 and a 200-day simple moving average of $233.29. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The company had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. During the same quarter last year, the firm earned ($0.53) earnings per share. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, research analysts expect that AppFolio, Inc. will post 3.04 EPS for the current year.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.